GOODS & SERVICES TAX (GST) & CUSTOMS

Goods and Service Tax (GST), one of the major tax reforms in India, finally became a reality when it was introduced in July 2017. Given the magnitude of the change, it comes with its own set of challenges and complexities. The change is not only in the law but also an attempt to infuse technology for reporting requirements.

The government has been very proactive in trying to streamline its processes and adjust to the demands of the industry. Given the frequent clarifications/changes in the law, and interpretation issues, it is imperative for the businesses to re-visit the positions taken at the time of the introduction of GST to ensure that the businesses does not get affected in the longer run.

We assist our clients by providing a wide gamut of services including conducting GST diagnostic review, advising on various GST related issues, assistance in litigation and representation before the GST Council, etc. Additionally, we also assist in obtaining GST refunds, undertaking GST compliances and audits.

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Our service offerings:

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GST Advisory and other services:

• Advising on various GST-related queries

• Tender / pre-bid and post-bid assistance

• Identify key issues/areas of representation and make representations before the GST Council

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GST diagnostic review:

• Review the as-is position of the Company as to whether the same is in consonance with the existing GST provisions

• Identify risks and opportunities viz. areas of non-compliance and potential tax exposures, areas of savings, etc. and provide suggestions on the same

• Review of various processes followed by the Company from GST perspective

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GST litigation services:

• Preparing replies to various notices, drafting appeals, etc.

• Drafting and filing applications seeking advance rulings

• Representation services

• Litigation review exercise to formulate a strategy for swift resolution of matters

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GST Compliance and audits:

• Computation of tax payments and filing of various returns

• Assist in reconciliation of input tax credits as per the GST system and as appearing in records maintained by the Company

• Preparation of compliance tracker

• Assist in queries related to e-Way bills generation

• Assistance in undertaking GST audits

GST Refunds:

• Preparation and filing of refund claims

• Providing end-to-end support including liaising with the authorities and obtaining refund orders

We at Preyas Ruparel and Associates also provide below service offerings:

Customs-related services:

• Identifying product tariff classification and rates under customs

• Assistance in undertaking provisional and final assessments

• Analyze customs valuation for related party transactions

• Customs Special Valuation Branch proceedings support

• Preparing replies and drafting appeals, representation services

• Assist in filing writ petitions and briefing counsel for hearings before High Courts and the Supreme Court

• Assistance in refund applications

• Routine advisory services

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State incentive policies:

• Analyzing various tax incentives and related benefits granted under state industrial policies

• Assisting in making applications and obtaining exemptions/refunds

• Assist clients in making representation to relevant state governmental departments

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Other support services:

• Analyzing the pros and cons of setting up EOUs, STP units, or SEZ units and suggesting a suitable tax-efficient structure

• Assist in setting up and operationalizing EOUs, STP units, or SEZ units

Call Us:

+91 98195 34246